Business

Reliance is up 2 per cent, Sun Pharma, Tata Steel, BHEL and Bharti Airtel are top gainers in the Sensex.

The rupee resumed slightly lower at 60.13 a dollar from previous close of 60.12 at the Interbank Foreign Exchange (Forex) market.

The decisions were taken during the first bilateral meeting between Prime Minister Narendra Modi and President Dilma Rousseff.

Raghuram Rajan recently launched two mobile branches with ATM facility to provide banking services.

Coal India Ltd started production on Friday at a 12-million-tonnes-per-year mine which should help boost supplies to fuel-starved power plants.

The government has identified tier-2 cities such as Hubli-Dharwad, Shimoga, Mangalore, Mysore, Gulbarga, Tumkur and Belgaum for IT investments.

'Inflation', which has been a major cause of worry for the new government ever since it came to power, was referred to six times by the new Finance Minister.

Arun Jaitley said all fresh cases arising out of the 2012 amendment of I-T Act will be looked into by a high level CBDT committee.

Putting stress on raising resources, Arun Jaitley said, "the focus of any tax administration is to broaden the tax base."

"India today needs a boost for job creation. Our manufacturing sector in particular needs a push for job creation," Arun Jaitley said.

Congress leader Shashi Tharoor said it lacked direction. Nationalist Congress Party chief Sharad Pawar termed the budget disappointing.

The government will allocate Rs 500 crore for its 'Digital India' initiative to set up broadband network in villages and promote local manufacturing of hardware and Indian software products.

Modi wants to open up industries like defence, but selling controlling stakes in bloated state enterprises is out of the question.

The Sweden-headquartered company, founded in 1943, is one of the world's largest retailers in furniture, household goods and textiles.

Indian markets seemed reassured by the stern tone on fiscal consolidation.

The value proposition would cover 11 stations of the New Delhi-Mumbai and New Delhi-Kolkata sections spread over six Zonal Railways.